Tag #Tax Loophole

What are the immediate economic consequences of the customs tax loophole benefiting Shein, and how is it impacting British retailers?

British retailers are demanding an end to a customs tax loophole benefiting Shein, a Singapore-based online fashion group, which allows it to avoid import duties on parcels sent directly to UK consumers. This is causing significant distress to British retailers already struggling with increased taxes and economic hardship. The government's prioritization of Shein's London listing is fueling this anger.